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CSC 2Q Net Off 15% As Revenue, Margins Weaken; View Mixed

DOW JONES NEWSWIRES CSC's (CSC) second-quarter earnings fell 15% as the information-technology company reported weaker revenue and margins along with sharply higher taxes. It raised its profit target for the year by 5 cents to $5.35 to $5.45 a share but lowered its revenue view to $16.5 billion to $17 billion from $16.8 billion to $17.2 billion. The information-technology services company, which provides services from consumer-credit information to online-data security, has benefited from increased IT outsourcing. For the quarter ended Oct. 1, CSC reported a profit of $184 million, or $1.18 a share, down from $216 million, or $1.40 a share, a year earlier. Revenue decreased 1.6% to $3.98 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.17 on revenue of $4 billion. Gross margin fell to 20% from 20.4%. CSC's managed-services segment, which is its largest by revenue and which mainly covers government contracts, saw revenue edge up 0.1%. Its North American public-sector business reported revenue declined 4.5%. Shares closed Tuesday at $48.79 and were down 1.4% premarket to $48.10. -By Tess Stynes, Dow Jones Newswires; 212-416-2481;;

Stock News for Computer Sciences (CSC)
07/28/201616:49:02Additional Proxy Soliciting Materials (definitive) (defa14a)
07/28/201616:47:18Current Report Filing (8-k)
07/28/201609:45:00CSC Leads Winner’s Circle in HfS As-a-Service Blueprint Report
07/27/201619:08:07Statement of Changes in Beneficial Ownership (4)
07/27/201619:08:07Statement of Changes in Beneficial Ownership (4)
07/26/201617:10:00Citrix in Deal with LogMeIn
07/22/201616:47:29Additional Proxy Soliciting Materials (definitive) (defa14a)
07/19/201616:30:00CSC to Report First Quarter 2017 Results on Monday, August 8...
07/19/201610:00:00CSC Recognized With Two Disability Workplace Honors
07/19/201600:00:00CSC and IBM Expand Strategic Alliance with Collaboration Utilizing...
07/15/201616:49:10Additional Proxy Soliciting Materials (definitive) (defa14a)
07/15/201616:47:05Current Report Filing (8-k)
07/13/201618:51:32Statement of Changes in Beneficial Ownership (4)
07/13/201618:51:31Statement of Changes in Beneficial Ownership (4)
07/13/201618:51:04Statement of Changes in Beneficial Ownership (4)
07/08/201616:56:47Annual Report of Employee Stock Plans (11-k)
07/05/201608:00:00CSC Finalizes Aspediens Acquisition to Advance Position as Wor...
06/29/201618:02:15Statement of Changes in Beneficial Ownership (4)
06/29/201618:02:15Statement of Changes in Beneficial Ownership (4)
06/29/201618:01:47Statement of Changes in Beneficial Ownership (4)

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